Calif. Court OKs Lien On Assets In Gulfstream Founder's Trust

Law360 (September 10, 2018, 8:30 PM EDT) -- The federal government can extend its lien against the property of the estate of Allen Paulson, the deceased founder of Gulfstream Aerospace Corp. and a race horse owner, to assets of a living trust, a California federal court has ruled.

In a ruling issued Friday, U.S. District Judge Anthony Battaglia resolved multiple disagreements between the U.S. government and Paulson's feuding heirs, including disputes over who is the statutory executor of the estate and which surviving relatives are liable for estate tax. The estate reported an initial tax liability of nearly $4.5 million in 2001 but elected to pay most of it on...

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